Returns filed with unemployment benefits prior to the $10,200 exclusion should not be amended. The IRS has indicated it will refigure taxes on these returns and adjust the taxpayer’s account accordingly. The IRS will then send any refund amount directly to the taxpayer.
The IRS has announced that it will extend the filing season until Monday, May 17, 2021. This one-month extension is for filing and payment. The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, […]
Find when and how we sent your 2021 Economic Impact Payment with the Get My Payment tool. Get My Payment Find help with this tool with Frequently Asked Questions. Get My Payment updates once per day, usually overnight. Do not call the IRS. Our phone assistors don’t have information beyond what’s available on IRS.gov. Previous payment […]
Please stay tuned for information about the Advance Premium Tax Credit (APTC) — the IRS’s first priority was the Unemployment Exclusion change and we expect more information on the APTC in the near future. The IRS has advised that you should not yet amend returns that had Unemployment Compensation or Repayment of the Advance Premium […]
The American Rescue Plan Act of 2021, which was signed into law on March 11, includes a third round of stimulus payments. The IRS will begin the process of depositing payments into accounts immediately, with the first wave of direct deposits hitting accounts early next week. It is our understanding the IRS will use direct […]
The American Rescue Plan Act of 2021 makes a portion of unemployment compensation non-taxable for certain filers and eliminates repayment of excess funds received through the Advance Premium Tax Credit. We ask for your patience while we work closely with the IRS and state taxing authorities to implement any necessary changes. We know many of […]
The deadline for filing calendar-year partnership and S corporation returns is March 15, 2021. These returns must be filed (e-filed or postmarked) by midnight (local time) on March 15, 2021. Fiscal-year returns will be due the 15th day of the 3rd month following the year-end. Both partnership and S corporation returns are allowed a six-month […]
The table below shows key 2021 deadline dates for filing 2020 tax returns and requesting temporary extensions. Given the number of missing government payments around the COVID relief economic stimulus payments and especially the dependent child stimulus payment, I expect there to a keen interest in the upcoming tax season. Especially for those expecting a […]
Want to know when your stimulus check will arrive? Here’s what you need to know. Stimulus Checks For many Americans, stimulus checks will arrive soon. Treasury Secretary Steven Mnuchin has said most Americans will receive their stimulus check by April 17. Director of the U.S. National Economic Council Larry Kudlow said checks will start going out […]
